St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-25

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The real estate market during the past
week has shown decided signs of i'm
provement. A number of parties who
have been hoping to see lower prices
owing to cloSeness of the money market
have concluded they are waiting in vain
and have made up their minds definitely
TO purchase in order to complete their
plans for Improvement next year.
The sale to William Bickel of the
corner of Fifth and WabaSha, 100 feet
square, is really sale to the Germania
bank. and while the officers of that cor
poratiOn are very reticent as to their
plans, they have had a meeting since
the contract for the land was made and
decided to increase the capital stock
100000, which is the price paid for the
ground purchased. They have also
about concluded to erect in the near
ner, with accommodations for their
bank on the first floor. This is one of
the very best, if not the best, corners
for such building in the whole city of
st. Paul. The rock that now occupies
the ground is eleven feet in thickness
and is good quarry stone. The lowest
layer is foot thick of good solid blue
limestone, and the plan will be to quarry
out to this lower strata and tnen leave 1t
as the starting point of foundation. 1t
makes a foundation as solid as the ever
lasting hills, and if they choose to erect
very high building they will never
have any trouble as to the foundation.
The nearneSS to the United States Gus
tom-hCuSe and p0stotfice and the new
city hall and courthouse would insure
tenants of firSt-claSS character; besides,
such a binding would add very ma
terially to the improvements OF WabaSha
street.
~
A number OF parties are negotiating
for centrally located business property
on which to erect large buildings and
unless something interfereS, now I'M
fOrSeen, several sales of this kind will
be conSummated before December first.
SRe outlook for the market is very
favorable indeed. A number of capital
lists visited the state during the State
Fair and were so favOrably impressed
with the general solidity and marked
prosperity of the city that they went
c-lome determined to return at an early
day and place money in st. Paul real
estate.
9 During the week Col. J. II. Davidson
delivered the deed for lots Is, 10, 20, 81,
"a. 20, 26, %, IS, 90 and so, in block Z, of
Holcomb's addition to the city of ST.
Pail. These lots, with one exception,
front on Laurel avenue. The other one
fronts on st. Alban. 1t is probable that
number of buildings will be elected ON
these lots in another year.
The inquiry for property in the Mid
way district, particularly south of Sum-
nit avenue and between Smelling ave-
nue. and Cleveland avenue, has been
very good and number of parties have
been trying to secure acres, but every
body owning property in that district is
SO confident of future advance that they
are not disposed to sell at anything less
than the market price heretofore eStab-
lished, which runs from 81 SEQ to $500
per acre, depending upon locality.
The intimations that have been quietly
whispered about that natural gas in
paying quantities had been found in the
near vicinities of the city, has added
somewhat to the anxiety of securing
acres or lots in the direction in which
the gas has been discovered. tits prob
able that the fact is that there are SIM
ply favorable indications, but it can
hardly be said that gas has been found
in paying quantities until it discharges
in such quantities as to be lighted and
burned at the point of discovery. Of
course all hope that it may prove to be
true, that there are large quantities of
natura gas in the vicinity of the city.
1t would add immensely to the manu-
featuring advantages of st. Paul if
cheap fuel of this kind could be OBJ
tanned in large quantities.
Tn ba diraofinn of
street, beyond the Harvester works,
good many men of small means are
seeking to purchase single lots for
homes. realizing that when the cable
line is extended, as it must be, under
present contracts, to the eastern city
limits, that property will advance very
rapidly i'll that direction. The plan of
selling lots upon small cash payments,
with monthly payments thereafter,
seems to be a favored way for men of
small means to secure homes for them
are able to do SO are really benefactors
to the poor men who are seeking in
this way to make for themselves homes.
~
The Electric Rapid Transit company
in South st. Paul, expect to give an eX-
hibition test of the operation to a small
section of their line some time between
now and winter, and their plans for ex-
tending the line westward to the vicin t.
selecued for the town house, or city
hall, of South st. Paul, will be carried
out early next year, and the line
will then be brought into the city
either by South Robert street or
some parallel street, so that there will
be connection between South st. Paul
and West st. Paul by the cars of the
Rapid Transit company. The gentle
men connected with the enterprise are
spending their money freely and liber-
ally. and are entirely confident that it
will be great success. The question
of suburban transportation is one of
very great Importance to the growth and
development of this city, and if this
company will construct a line that gives
frequent facilities for going to and from
the business center it will cause de-
velopment along its line that will be
perfectly marvellous.
There has been considerable talk
about quiet market and dull times
but the actual transfers, as compared
with previous years, shows that there
has been decided activity and great
deal of buying and selling, more, even,
than in the same time during any pre-
ceding year.
North St. Paul.
During the whole week business has
been very active at North st. Paul,
which is now generally recognized as
great manufacturing center. The land
company report very large number of
Gales of houSaS and lots and a ctropor